Abandoned housing projects in Malaysia and the prospect of DP: an overview
Owning a house is a dream that every individual cherishes. In Malaysia, both the banking sector and the government have expended relentless efforts to ensure Malaysians have access to financing and affordable houses. These efforts are however being derailed by alarming cases of abandoned housing pro...
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| Format: | Article |
| Language: | English |
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ELSEVIER
2015
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| Online Access: | http://irep.iium.edu.my/47938/ http://irep.iium.edu.my/47938/1/Elsevier_-_AHP_and_DP.pdf |
| _version_ | 1848783224485969920 |
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| author | Abdul Razak, Dzuljastri Mohammed, Mustafa Omar Tarique, Kazi Md. |
| author_facet | Abdul Razak, Dzuljastri Mohammed, Mustafa Omar Tarique, Kazi Md. |
| author_sort | Abdul Razak, Dzuljastri |
| building | IIUM Repository |
| collection | Online Access |
| description | Owning a house is a dream that every individual cherishes. In Malaysia, both the banking sector and the government have expended relentless efforts to ensure Malaysians have access to financing and affordable houses. These efforts are however being derailed by alarming cases of abandoned housing projects (AHPs) that have affected a substantial number of house buyers. Several reasons have been cited for the AHPs. The issues of the Islamic banking debt based home financing products have remained prominent. The literature argues that these products such as BBA and Tawarruq have embedded features of transferring risks and liabilities to home buyers. This problem becomes acute in cases of AHPs. Musharakah Mutanaqisah or Diminishing Partnership (DP) is suggested as the superior option for Islamic home financing schemes. However, there is hardly any work that has investigated the extent to which DP can provide remedy to address the problem of abandoned housing projects. The present paper adopts content analysis and it shows that DP has a bright prospect of mitigating the problem of abandoned housing projects. The paper is concluded with suggestions for future research. |
| first_indexed | 2025-11-14T16:17:57Z |
| format | Article |
| id | iium-47938 |
| institution | International Islamic University Malaysia |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-14T16:17:57Z |
| publishDate | 2015 |
| publisher | ELSEVIER |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | iium-479382016-07-20T08:21:36Z http://irep.iium.edu.my/47938/ Abandoned housing projects in Malaysia and the prospect of DP: an overview Abdul Razak, Dzuljastri Mohammed, Mustafa Omar Tarique, Kazi Md. HG4001 Financial management. Business finance. Corporation finance. Owning a house is a dream that every individual cherishes. In Malaysia, both the banking sector and the government have expended relentless efforts to ensure Malaysians have access to financing and affordable houses. These efforts are however being derailed by alarming cases of abandoned housing projects (AHPs) that have affected a substantial number of house buyers. Several reasons have been cited for the AHPs. The issues of the Islamic banking debt based home financing products have remained prominent. The literature argues that these products such as BBA and Tawarruq have embedded features of transferring risks and liabilities to home buyers. This problem becomes acute in cases of AHPs. Musharakah Mutanaqisah or Diminishing Partnership (DP) is suggested as the superior option for Islamic home financing schemes. However, there is hardly any work that has investigated the extent to which DP can provide remedy to address the problem of abandoned housing projects. The present paper adopts content analysis and it shows that DP has a bright prospect of mitigating the problem of abandoned housing projects. The paper is concluded with suggestions for future research. ELSEVIER 2015 Article PeerReviewed application/pdf en http://irep.iium.edu.my/47938/1/Elsevier_-_AHP_and_DP.pdf Abdul Razak, Dzuljastri and Mohammed, Mustafa Omar and Tarique, Kazi Md. (2015) Abandoned housing projects in Malaysia and the prospect of DP: an overview. Procedia Economics and Finance , 31. pp. 813-822. ISSN 2212-5671 http://creativecommons.org/licenses doi: 10.1016/S2212-5671(15)01171-5 |
| spellingShingle | HG4001 Financial management. Business finance. Corporation finance. Abdul Razak, Dzuljastri Mohammed, Mustafa Omar Tarique, Kazi Md. Abandoned housing projects in Malaysia and the prospect of DP: an overview |
| title | Abandoned housing projects in Malaysia and the prospect of DP: an overview |
| title_full | Abandoned housing projects in Malaysia and the prospect of DP: an overview |
| title_fullStr | Abandoned housing projects in Malaysia and the prospect of DP: an overview |
| title_full_unstemmed | Abandoned housing projects in Malaysia and the prospect of DP: an overview |
| title_short | Abandoned housing projects in Malaysia and the prospect of DP: an overview |
| title_sort | abandoned housing projects in malaysia and the prospect of dp: an overview |
| topic | HG4001 Financial management. Business finance. Corporation finance. |
| url | http://irep.iium.edu.my/47938/ http://irep.iium.edu.my/47938/ http://irep.iium.edu.my/47938/ http://irep.iium.edu.my/47938/1/Elsevier_-_AHP_and_DP.pdf |